" . . . It's a convergence of factors all at once: The government is unraveling, the economy is hurting our supporters and now you have not only the decline on Wall Street but also this fraud. It's a perfect storm . . ."
Letters to the editor
This past September, the Bureau of Jewish Education of Greater Los Angeles, the Zimmer Children's Museum and representatives of more than 70 other organizations attended a seminar for nonprofits that I conducted at The Jewish Federation of Greater Los Angeles.
Not long ago, Tali Pressman, 24, found herself sitting in a room full of civically minded young Jews in Los Angeles -- that elusive demographic of 20- to 30-somethings targeted by so many religious and political recruiters.
The goal: How to better collaborate and organize their diverse work for nonprofits and Jewish communal services in the city.
Faced with a pension shortfall of $20 million, the organized Jewish community's largest philanthropy finds itself forced to divert millions of donor dollars to employee retirement benefits, rather than to needed social services.
When the stock market entered bear territory last month, individual investors weren't the only ones taking note. The continued softening of the market can also have a major effect on nonprofit organizations, many of which have benefited greatly from an exceptional run during the past five years.
While it's still too early to tell how the recent changes will affect Jewish nonprofits in Los Angeles, fundraisers at some of the city's largest philanthropic organizations say they're not worried yet.